An eight-storey apartment building is set to rise at 1341 Water St. after Peterborough city council approved a zoning bylaw amendment for the site.
The property, located on the west side of Water Street just north of Carnegie Avenue, was already zoned to allow a maximum height of five storeys. Under those rules, a site plan approved in August 2023 permitted three separate five-storey buildings with a total of 96 units.
The new amendment replaces that plan with a single eight-storey structure containing 159 units and 175 parking spaces, meeting traditional zoning parking requirements. The project marks a shift from an earlier student-focused concept, first brought forward earlier this summer, which proposed 219 units with 117 parking spots and sought reduced parking allowances.
Council first reviewed the application on June 23rd, during a statutory public meeting at its general committee session. That meeting raised concerns about the intended use of the building, parking capacity and traffic impacts. On June 30th, council deferred a decision until the applicant confirmed whether the project would be geared toward students or the general rental market.
The revised plan removes all references to a student-oriented design and adheres to standard zoning regulations for parking. A holding symbol will remain in place until certain access requirements and environmental impact conditions are met.
City staff noted the location is along a high-capacity arterial road, well connected by sidewalks, trails, and public transit. The development will require a dedicated northbound left-turn lane to accommodate traffic entering the site.
The decision reflects ongoing growth pressures in Peterborough’s rental market and the push to increase density along major transportation corridors.
(Written by: Jordan Mercier)
